Faced with a sharp downturn in global demand, Japanese auto makers are putting the brakes on capital investment. Toyota Motor Corp. and Honda Motor Co. Ltd. were first to announce delays or cancellations in December. Nissan Motor Co. Ltd. is expected to follow suit at the end of this month when the auto maker discloses its third-quarter financial results, almost certain to be down substantially from late October when it projected a ¥79 billion ($838 million) second-half profit. Toyota, ...

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